One Person Company Registration eSeva

One Person Company Registration

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Basic
Standard
Premium

This package comprises of One Person Company Registration along with the following

Two Digital Signature Certificates
One Director Identification Numbers
One RUN Name Approval
Authorised Capital of INR 10 Lakhs
Incorporation Fee
Stamp Duty
Incorporation Certificate
PAN and TAN
GST Registration
LEDGERS Accounting Software

This package comprises of One Person Company Registration along with the following

Two Digital Signature Certificates
One Director Identification Numbers
One RUN Name Approval
Authorised Capital of INR 10 Lakhs
Incorporation Fee
Stamp Duty
Incorporation Certificate
Exclusive ICICI Bank Zero-Balance Current Account
PAN and TAN
GST Registration
Incorporation Kit
Share Certificates
LEDGERS Accounting Software

This package comprises of One Person Company Registration along with the following

Two Digital Signature Certificates
One Director Identification Numbers
One RUN Name Approval
Authorised Capital of INR 10 Lakhs
Incorporation Fee
Stamp Duty
Incorporation Certificate
PAN and TAN
GST Registration
Incorporation Kit
Share Certificates
Udyog Aadhaar
Trademark Registration
LEDGERS Accounting Software

One Person Companies (OPCs) are governed by the Companies Act of 2013 with the aim to support entrepreneurswho want to start their own ventures as an individual Director. Unlike any other business forms, One Person Companies do not require more than a single member. Similar to Private Limited Company, an OPC is an individual legal entity that offers limited liability protection to its sole shareholder along with simple incorporation process. However, it is mandatory that a One Person Company be converted to a Private Limited Company as soon as it crosses an annual turnover of INR 2 Crores and file audited financial statements with the Ministry of Corporate Affairs at the close of every financialyear.

India eSeva offers a wide range of services on Company Incorporation including Private Limited Company Registration, One Person Company Registration, Section 8 Company Registration and more. Complete legal, procedural, consulting and managerial services are provided to meet your particular incorporation needs and help manage your business better.

The following are the advantages of registering as a One Person Company.

Sole Ownership:

One Person Company is atype of business entity that can be registered as well as operated by a single individual. Compared to Private Limited Companies, One Person Companiesenjoy a number of exemptions and hence, have lesser compliance burden. Specifically, the single ownership of the company facilitates smooth functioning and decision making of the company.

Limited Liability:

One of the most interesting features of a One Person Company is the clause of limited liability. It protects its Director and Shareholders in cases of company liabilities and debts.

Perpetual Existence:

One Person Companieswould continue to function irrespective of any change in the ownership. This means that a company, being a separate legal individual, will remain unaffected by the death or abandonment of any member.

Borrowing Capacity:

As a registered legal entity, a One Person Company has the ability to borrow funds from Banks, NBFCs and Private Creditors.However, an OPC is not permitted to issue equity security as it is individually owned.

Share Transfer:

A One Person Company ownership may be transferred by modifying the shareholding, directorship and nominee director information.

Property Acquisitions:

Tangible assets such as buildings, machinery, lands, and intangible assets such as trademarks and copyright maybe acquired and owned by a One Person Company.

The following documents are required for the incorporation of a One Person Company.

Identity Proof of the Director and the Nominee Director: PAN of the Director as well as the Nominee Director.
Address Proof of the Director and the Nominee Director: Documents such as Passport, Drivers License, Aadhaar along with a valid Bank Statement or Electricity Bill must be submitted. The documents must be valid and not less than 2 months old.
Proof for Registered Office in India: Documents such as a Rental Agreement or Sale Deed along with a copy of the Electricity Bill and Property Tax Receipt are essential. A No-Objection Letter from the Landlord for the use of the said premises as a Registered Office is required.
Signed Incorporation Documents: A hard copy of the self-attested Digital Signature Application documents. Additionally, other Incorporation Documents must be self-attested and submitted as a soft copy.

The initial step for One Person Company incorporation is to obtain the Digital Signature Certificate (DSC) of the proposed Director. Once the DSC procedure is complete, the next step would be to apply for the Director Identification Number (DIN) of the proposed Director in the SPICe Form along with the name and address proof of the Director. After which, the name of the Company has to be decided. The name of the Company would be reviewed and approved by the Ministry of Corporate Affairs (MCA).

Once the MCA has approved the name of the Company, documents such as the Memorandum of Association (MoA) and the Articles of Association (AoA) along with other relevant documents are to be submitted to the Registrar of Companies. All the required documents will be uploaded on the official portal of the Ministry of Corporate Affairs along with the SPICe Form. After these documents are uploaded, forms needed for the generation of PAN and TAN will be issued. These forms have to be uploaded back to the MCA Portal after affixing the DSC of the proposed Director. Post review and verification, the Registrar of Companies will issue the Certificate of Incorporation, and the business may commence.